Toronto, ON (Sept. 5, 2019) – The Financial Services Regulatory Authority of Ontario (FSRA) has approved the use of electronic proof of automobile insurance (EPAI), or eSlips. Drivers in Ontario can now present their eSlips when required, without having to carry the paper copy. This change is effective immediately. Ontario joins Nova Scotia, Newfoundland and Labrador, Alberta and Quebec in allowing consumers the option of using eSlips.
“It only makes sense that drivers in Ontario can take advantage of the same options that drivers in other provinces and jurisdictions can, for the convenience that digital pink slips can offer,” said Ontario Finance Minister Rod Phillips.
CSIO worked with many of its members to launch the My Proof of Insurance solution in February 2018. The My Proof of Insurance solution – available to CSIO members at no additional cost – was created in response to evolving customer demand for a more seamless, digital experience with their insurance providers. A January 2018 Insurance Bureau of Canada survey found 74% of Ontarians want the option of receiving their insurance documents online or electronically.
Since the launch of CSIO’s My Proof of Insurance, broker adoption has been strong and continues to grow across Canada. Most major broker management systems have also integrated with My Proof of Insurance, and dozens of insurers have chosen it as their eDelivery platform.
Over the past two years, CSIO has met with regulators and stakeholders across Canada to address their questions and to build understanding of the industry’s eDelivery solution.
“We are very pleased with the Ontario government’s decision to approve the use of eSlips,” says Catherine Smola, President and CEO of CSIO. “Electronic proof of auto insurance is an example of the industry working together to focus on the needs of its customers. Regulators across Canada are taking heed and we expect the remaining provinces to work through the approval process in the coming months.”
The full Ontario bulletin is available here.
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry association of property and casualty insurers, software providers and over 38,000 brokers. CSIO is committed to improving the consumer’s ease of doing business within the broker channel by overseeing the development, implementation and maintenance of technology standards and solutions such as eDelivery, eDocs, and eSignatures. In addition, CSIO operates the industry-owned mail network service, CSIOnet. CSIO maintains offices in Toronto and Montreal. For more information, visit www.csio.com.
SOURCE: Centre for Study of Insurance Operations (CSIO)Tags: Centre for Study of Insurance Operations (CSIO), eSlips, Financial Services Regulatory Authority (FSRA), Ontario, Proof of Insurance